News Archive

13 June 2006

Interim Results

ATH Resources plc, one of the UK’s largest coal producers, reports its Interim Results for the six months ended 2 April 2006.

Highlights

• Turnover up 35% to £23.1million (2005: £17.1 million) on the sale of 790,000 tonnes of coal (2005: 638,000 tonnes)
• EBITDA up 113% to £8.1 million (2005: £3.8 million)
• Profit before tax up 40% to £2.1 million (2005: £1.5 million)
• Earnings per share up 9% to 3.70p per share (2005: 3.39p per share)
• Interim dividend of 3.36p per share proposed
• Planning application submitted for two new sites that, with approval, will increase the Group’s total permitted reserves to 8.5 million tonnes (2005: 7.1 million tonnes)

Highlights since half-year end

• April 2006 - Two new sales contracts entered into for the supply of up to 1.5 million tonnes up to 2010
• May 2006 - Completed £9.5 million acquisition of A Ogden & Sons Limited, a successful coal recovery, land remediation and regeneration business
• May 2006 - Grievehill change of planning condition submitted for a further 370,000 tonnes of coal to be extracted from within the current site

Commenting on the Interim Results, Tom Allchurch, Chief Executive of ATH Resources, said:

“ATH Resources has made good progress in this period both operationally in developing sites and through the planning process to expand its reserve base. As such, we are pleased to have delivered on our strategic plan and to be proposing an interim dividend of 3.36p per share.”

“Furthermore, we are delighted that since the half-year end, the Company has acquired A Ogden & Sons Limited, a successful coal recovery, land remediation and regeneration business, and w e look forward to benefiting from its services, knowledge base and profitability.”

The full results are available to view and download in PDF format.

 

For further information:
ATH Resources
Tom Allchurch, Chief Executive	Tel: +44 (0) 1302 760 462
tom.allchurch@ath.co.uk
Seymour Pierce Limited
Sarah Wharry , Corporate Finance	Tel: +44 (0) 20 7107 8000
sarahwharry@seymourpierce.com	www.seymourpierce.com
Media enquiries:
Abchurch
Henry Harrison-Topham / Sarah Hollins	Tel: +44 (0) 20 7398 7702
henry.ht@abchurch-group.com	www.abchurch-group.com

 

 

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